Trump’s Russian Oil Threat Fails, India’s Growth And Energy Security To Remain Strong

International News: US President Donald Trump is very angry with India these days. The reason is India's purchase of crude oil from Russia. Regarding this, he has announced a tariff of up to 50% on some products coming from India. Trump had said on August 6 that an additional 25% tax would be imposed on goods imported from India, which will come into effect on August 28.

This means that the total tax rate on some Indian products will reach 50%. According to a report by the Economic Times, in the year 2024, the US imported about $87 billion from India. In such a situation, such a high tariff can almost eliminate the import of Indian goods in the US market.

Trump's threat will have no effect

According to a Reuters report, the market has not taken Trump's warning seriously. The international oil market is confident that it will not have any major impact on India. Trump's record also shows that he is known to change his decisions suddenly, so it is difficult to consider his announcement as final. Experts say that this move of Trump may actually be an attempt to build pressure before talks with Russian President Vladimir Putin, in which India is being used as a pawn.

No Threat To Supply

After Trump's announcement, crude oil prices fell. On Monday, Brent crude oil reached $65.81 per barrel in the Asian market, which is the lowest level in the last two months. This trend of prices shows that the market does not fear any major threat in the oil supply chain.

Experts say that India will either continue to buy oil from Russia as before or will easily buy oil from any other country if needed. In such a situation, there will be no significant impact on global oil supply.

America Stuck In Russia-China-India

India and China are the biggest buyers of crude oil from Russia. China is the world's largest oil buyer, and the US and other Western countries are dependent on China in many matters. This is why Trump cannot put pressure on China to stop it from buying oil from Russia. India's situation is a little different.

Especially private refinery companies, like Reliance Industries, would not want to spoil their business relations with Western countries. Nevertheless, Russian oil will remain an important support for India, given its energy needs and current market conditions.